Hong Kong’s Securities and Futures Commission (SFC) has officially approved the city’s first spot Solana (SOL) exchange-traded fund (ETF), which positions the city as a pioneer in Asia’s regulated digital asset markets. The approval makes Solana the third cryptocurrency to gain spot ETF status in Hong Kong, following Bitcoin (BTC) and Ethereum (ETH).
The new product, ChinaAMC Solana ETF (03460), will debut on the Hong Kong Stock Exchange on October 27, marking another major step in Hong Kong’s ambition to establish itself as a global crypto investment hub. The ETF will trade under three currency counters, HKD (3460), RMB (83460), and USD (9460), and each lot will represent 100 SOL.
Strengthening Hong Kong’s role as a regional crypto hub
China Asset Management Company (ChinaAMC) will fully back the Solana ETF with physical SOL holdings, providing investors with direct exposure to the cryptocurrency’s market performance rather than derivatives or futures-based products. This structure ensures a one-to-one representation of Solana tokens held in custody, mirroring the setup used in ChinaAMC’s earlier Bitcoin and Ethereum ETFs launched in April 2024.
The fund’s management fee is set at 0.99%, with a total annual expense ratio estimated at 1.99%, inclusive of custody and administrative costs. The ETF will not initially include staking features, though future updates are possible pending regulatory review. Trading operations will be supported by OSL Exchange, while OSL Digital Securities will act as the ETF’s sub-custodian.
This approval highlights Hong Kong’s ongoing efforts to balance investor protection with innovation in the digital asset space. The city’s 2025 “A-S-P-I-Re” roadmap, outlining 12 measures across five strategic pillars, further underscores the government’s intent to develop a robust virtual asset ecosystem.
As the first jurisdiction in Asia to approve a 100% spot Solana ETF, Hong Kong has taken the lead ahead of markets such as the United States, where the SEC remains yet to approve similar products. Ongoing delays in the U.S. stem from staffing limitations amid an extended federal government shutdown.
Institutional interest and global context
The timing of Hong Kong’s Solana ETF launch reflects the growing institutional appetite for high-performance layer-1 blockchain exposure. Solana’s transaction speed and scalability have earned it a place among preferred networks for developers and investors exploring decentralized applications and tokenization use cases.
The move also complements Hong Kong’s earlier efforts to bring regulated investment vehicles for crypto assets to mainstream financial markets. Industry analysts note that by offering retail and institutional investors access to Bitcoin, Ethereum, and now Solana, Hong Kong has created a diversified environment for crypto ETF investment in Asia.
Globally, few jurisdictions have advanced as rapidly. While Canada has approved several Solana-based ETF products and Brazil introduced its first Solana ETF last year, Hong Kong’s launch reinforces its role as the leading Asian hub for regulated digital finance.
Solana (SOL) price performance and market sentiment
At the time of writing, TradingView shows Solana (SOL) trades around $188, marking a modest uptick following reports of the ETF’s approval. Despite this short-term rebound, the price remains significantly below its all-time high of approximately $295 in January 2025, representing a 35%–40% decline.
Technical indicators suggest mixed sentiment. The Relative Strength Index (RSI) sits near the neutral zone, at roughly 43, indicating muted momentum. SOL currently hovers around its 200-day EMA (~$186.7), providing a technical support level while major moving averages, 10-day EMA (189.43), 20-day EMA (196.83), and 50-day EMA (203.65), remain above current prices.
Analysts point out that ETF optimism alone may not immediately reverse bearish trends, but it can boost liquidity and institutional confidence. Some forecast potential price targets of $300–$400 if strong subscription data emerges in the ETF’s early trading phase.
Everyone forgot about SOL but sounds like government is re-opening this week which means SOL ETF approval very very soon
— Kale Abe (@kale_abe) October 21, 2025
$300 incoming for this bad boy and USELESS and other useless memes obviously benefit MUCHO pic.twitter.com/izgOvUOnRf
Outlook: Hong Kong leads, others follow
Hong Kong’s approval of the Solana ETF marks a symbolic and strategic leap for the city’s digital asset agenda. By hosting three spot crypto ETFs, for Bitcoin, Ethereum, and now Solana, the city has positioned itself as Asia’s most proactive player in fostering regulated access to blockchain-based assets.
As institutional investors increasingly explore tokenization, stablecoins, and Web3 infrastructure, Solana’s addition to the ETF lineup underscores its growing reputation as a foundational blockchain for real-world financial use cases.
In the broader landscape, the approval strengthens investor confidence and affirms Hong Kong’s ambition to remain at the forefront of crypto-financial innovation, charting a course that other global markets may soon follow.
Gunel Ismayilova
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